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Triple Bottom Line Accounting on Financial Performance of Quoted Industrial Goods Firms in Nigeria

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Triple Bottom Line Accounting on Financial Performance of Quoted Industrial Goods Firms in Nigeria


Laime Isaac Odogu | Pereowei Anderson Obalakumo | Timinipre Joseph Okpobo



Laime Isaac Odogu | Pereowei Anderson Obalakumo | Timinipre Joseph Okpobo "Triple Bottom Line Accounting on Financial Performance of Quoted Industrial Goods Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-5, August 2020, pp.542-550, URL: https://www.ijtsrd.com/papers/ijtsrd31844.pdf

This study examines Triple Bottom Line Accounting on Financial Performance of Quoted Industrial Goods Production firms in Nigeria. The sample comprises of 11 manufacturing firms Quoted on the Nigerian stock exchange (NSE), covering the period of 2013 to 2017 five years. The combination of 11 firms for a five years period provides a balanced panel of observations for analysis using a cross-sectional and ex-post facto research design. Triple Bottom Line Accounting measures, are Economic cost, Social cost, and Environmental cost. Financial Performance measure was Market Value Per Share. The postulated hypotheses were tested, using ordinary least square method of Multiple Regression Analysis. The empirical results states that, the r-squared of 0.38 suggest that our regression model, which regressed Triple Bottom Line Accounting indicators on Financial Performance of Quoted Industrial Goods Production Firms in Nigeria is well-fitted. The outcome is 38% and the probability value of f-statistics is significant at 1% supporting the credibility of the regression equation. This shows the ability of the selected explanatory variables to predict the changes that occur in Financial Performance of quoted industrial goods production firms in Nigeria. Based on the above findings, we recommend that, regulatory authorities, such as the Financial Reporting Council (FRC), Nigeria Stock Exchange (NSE) and Securities and Exchange Commission (SEC) to issue out necessary compliance directives and improve their compliance monitoring mechanisms to ensure a reasonable level of compliance by all companies to present their account reports in compliance with triple bottom line accounting pattern.

Economic cost, Social cost, Environmental cost and financial performance


IJTSRD31844
Volume-4 | Issue-5, August 2020
542-550
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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